I believe that the policies we have undertaken have been meant to generate a robust recovery.1
Effective demand is dead in the water.2
Quantitative easing…is that, like, making math easier?3
Well, goodbye to all that. Until the next time, Quantitative Easing.
For normal people with more interesting lives, I imagine articles headlined with the words “quantitative easing” prompt a mild degree of nausea and / or disinterest. As for me, for the last six years4 I’ve found it hard to avoid reading pieces on the unparalleled series of unconventional monetary policies: QE 1, QE 2, Operation Twist, QE 3. So much juicing of the financial markets, so much time I will never have back, so many unintended consequences nobody can foresee. (more…)